Demand for participation in OpenAI’s investment round exceeded supply by billions of dollars, Bloomberg reported, citing sources.
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OpenAI had hoped to raise $6.5 billion, but due to strong investor interest in the transaction, it will be forced to turn down a portion, the agency writes.
According to Bloomberg’s source, the round will likely include OpenAI’s existing strategic investors represented by NVidia, Microsoft and Apple. Another major investor, Sequoia Capital, declined to participate in the deal because it had previously backed OpenAI’s competitor, Safe Superintelligence.
As a result of the round, OpenAI could receive a valuation of $150 billion, which would put the startup in third place on the list of the largest private companies in the world. The most valuable such company is ByteDance (owner of TikTok, $268 billion), followed by Elon Musk’s SpaceX ($180 billion).
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
